Yushchenko and Azerbaijan's President Ilham Aliyev are expected to discuss in particular a new route to transport Caspian Sea oil to Europe through Ukraine's Odessa-Brody pipeline.
The pipeline currently carries Russian oil from Brody, near the Polish border, to the Black Sea port of Odessa.
(Turan, AFP)
Caspian Energy Special
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HOW MUCH OIL? The U.S. Energy Information Administration has estimated that the Caspian could hold between 17 billion and 33 billion barrels of proven oil. ("Proven reserves" are defined by energy experts to be 90 percent probable.) Other experts estimate the Caspian could hold "possible reserves" of up to 233 billion barrels of oil. ("Possible reserves" are considered to be 50 percent probable.) By comparison, Saudi Arabia has 261 billion barrels of oil and the United States 23 billion...(more)
See also:
Economic Forecast For 2006 Sees Growth, But Danger In Continued High Oil Prices
How Vast Are The Riches In The Caspian?
Experts Envision A Future Beyond Oil